The Long & Foster Market Minute

Focus On: Remington, Midland, and Southern Fauquier County Housing Market June 2021

Zip Code(s): 20119, 20138, 20139, 22712, 22720, 22728, 22734 and 22742
Units Sold
43
Active Inventory
34
Median Sale Price
$392,000
Days On Market
21
Down -4%
Vs. Year Ago
Down -56%
Vs. Year Ago
Up 14%
Vs. Year Ago
Down -36%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 43 sold this month in Remington, Midland, and Southern Fauquier County Real Estate versus 36 last month, an increase of 19%. This month's total units sold was lower than at this time last year, a decrease of 4% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 44 units or 56%. The total number of active inventory this June was 34 compared to 78 in June 2020. This month's total of 34 is lower than the previous month's total supply of available inventory of 36, a decrease of 6%.

Median Sale Price
Last June, the median sale price for Remington, Midland, and Southern Fauquier County Homes was $345,086. This June, the median sale price was $392,000, an increase of 14% or $46,914 compared to last year. The current median sold price is 2% lower than in May.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
49
Current Contracts
42
Sold Vs. List Price
99.5%
Months of Supply
0.8
Down -8%
Vs. Year Ago
Down -11%
Vs. Year Ago
No Change
Vs. Year Ago
Down -54%
Vs. Year Ago

Months of Supply
In June, there was 0.8 months of supply available in Remington, Midland, and Southern Fauquier County, compared to 1.7 in June 2020. That is a decrease of 54% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 49 homes newly listed for sale in Remington, Midland, and Southern Fauquier County compared to 53 in June 2020, a decrease of 8%. There were 42 current contracts pending sale this June compared to 47 a year ago. The number of current contracts remained stable as compared to last June.

Sale Price to List Price Ratio
In June, the average sale price in Remington, Midland, and Southern Fauquier County was 99.5% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 21, lower than the average last year, which was 33, a decrease of 36%.

The Long & Foster Market Minute Remington, Midland, and Southern Fauquier County are defined as properties listed in zip code/s 20119, 20138, 20139, 22712, 22720, 22728, 22734 and 22742.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.